Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  TEL AVIV STOCK EXCHANGE  >  Oil Refineries Ltd    ORL   IL0025902482

SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensus 
News SummaryMost relevantAll newsSector newsTweets

Oil Refineries Limited : Oil Refineries Announces Departure of CEO Pinhas Buchris

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/28/2013 | 11:45am CEST

Oil Refineries Ltd.

Company Contact:

Rony Solonicof

Chief Economist and Head of Investor Relations

Tel. 972 4 878 8152

Contact [email protected]

Investor Relations Contact:

Ehud Helft / Porat Saar

CCG Israel

Tel. (US) 1 646 233 2161 / (Int.) 972 52 776 3687 [email protected]

FOR IMMEDIATE RELEASE

OIL REFINERIES ANNOUNCES DEPARTURE OF CEO PINHAS BUCHRIS

Haifa, Israel, February 27, 2013 - Oil Refineries Ltd. (TASE: ORL.TA) (hereinafter "the Company," "ORL"), Israel's largest integrated refining and petrochemical group, announced that on February 26, 2013 the Company's Chief Executive Officer, Pinhas Buchris, requested of the Chairman of the Board, Akiva Mozes, to begin a search for a new CEO.

During his tenure as CEO, Mr. Buchris initiated a far reaching organizational restructuring and efficiency strategy, while completing the construction of the hydrocracker and integrating it with the Company's manufacturing processes, thus adapting the Company to the changes in the global energy market. These changes will serve as growth engines for the Company in the coming years and long term.
The Company's Chairman, Mr. Akiva Mozes, said this morning , "I thank Mr. Buchris for initiating this significant organizational restructuring and change in the Company's corporate culture. His efforts will contribute greatly to ORL." Mozes added: "A search committee will be established as soon as possible by the Board of Directors to select a new CEO."
Mr. Buchris said he would continue to hold office and will give notice regarding the end of his term once an appropriate candidate has been found.

ABOUT OIL REFINERIES LTD.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's lar gest

integrated refining and petrochemical group. It is one of the leading refineries in the Eastern Mediterranean area and integrates, on-site, petrochemical businesses. ORL runs sophisticated and state-of-the-art industrial facilities with a refining capacity of 9.8 million tons of crude oil per year and a Nelson Complexity Index of 9, providing a variety of quality products used in

Oil Refineries Ltd.

industrial operation, transportation, private consumption, agriculture and infrastructure. Besides production of fuels, the company produces in its wholly owned subsidiaries Polymers (through Carmel Olefins Ltd), Aromatics (through Gadiv Petrochemical Industries Ltd), and Lube-Oils (through Haifa Basic Oils Ltd). The Company's shares are listed on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit www.orl.co.il.

ORL is controlled by the Israel Corporation Ltd. and Israel Petrochemical Enterprises Ltd., both public companies whose shares are traded on the Tel Aviv Stock Exchange.

The above noted in this release includes forward-looking statements based on Company data, as well as Company plans and estimations based on this data. The activity, results and other data may be substantially different in reality given uncertainty and various risks, including those discussed under risk factors in the Company's financial statements and Director's report

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on OIL REFINERIES LTD
10/13 TENDER : Turkmenistan seeking partners for oil refineries feasibility study
10/09 OIL REFINERIES : Orpic Refinery Shut for Major Turnaround
10/09 OIL REFINERIES : Turkmen complex of refineries to buy equipment via tender
10/03 OIL REFINERIES : Turkmen complex of refineries announces int’l tender
09/05 OIL REFINERIES : Weekly tenders in the region
09/04 OIL REFINERIES : Petrochemicals rolling Hapoalim debt onto investors
08/30 OIL REFINERIES : Turkmen complex of refineries announces tender
08/28 OIL REFINERIES : Turkmen refinery extends tender
08/18 Israel Corp. Reports Results for the Second Quarter of 2017
08/16 ISRAEL CORP. : Reports Results for the Second Quarter of 2017
More news
News from SeekingAlpha
10/06 Why Crude Oil's 20% Rise Should Continue
09/21 U.S. Oil Exports Expected To Surge
09/19 Crude Oil And Why The Correlation To The Dollar Is A Farce
09/18 CRUDE OIL : Demand To Rise Pushing Prices Higher
08/31 EXXON MOBIL : History Shows P/E May Fall Further
Chart OIL REFINERIES LTD
Duration : Period :
Oil Refineries Ltd Technical Analysis Chart | ORL | IL0025902482 | 4-Traders
Technical analysis trends OIL REFINERIES LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 0,50 $
Spread / Average Target -4,6%
Managers
NameTitle
Avner Maimon General Manager
Ovadia Eli Chairman
Israel Lederberg Chief Financial Officer
Avisar Paz Director
David Federman Director
Sector and Competitors
1st jan.Capitalization (M$)
OIL REFINERIES LTD35.28%1 679
CHEVRON CORPORATION0.38%223 895
BHARAT PETROLEUM CORP LTD21.62%17 130
POLSKI KONCERN NAFTOWY ORLEN SA52.76%15 501
SINOPEC SHANGHAI PETROCHEMICAL CO LTD-4.19%9 096
PETRONAS GAS BHD--.--%8 666